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Our Governance

Our board and committees

The Agency’s Board of Directors sees to the fulfilment of the Agency’s mandate and the terms of its contract with Canada Mortgage and Housing Corporation (CMHC). Directors are recruited from the major geographic regions where the Agency has clients. Appointed by the board of directors of the Co-operative Housing Federation of Canada (CHF Canada), they may serve up to three three-year terms of office. All directors serve on one or two committees.

Finance and Audit Committee

This committee oversees and reports to the Board on the Agency’s financial position and operating results as against approved plans and budgets. It reviews the Agency’s annual budget, liaises with the auditor, monitors the Agency’s compliance with financial policies, and reviews these policies regularly.

Governance and Human Resources Committee

This committee makes sure that the Agency is abiding by its by-laws and policies, client agreements and all applicable laws and regulations. It ensures that the Agency is well organized and its CEO appropriately compensated. The committee advises the board on human-resources policies and governance matters.

Requirements and Restrictions

Once a director takes office, they cannot be removed, unless they no longer meet the qualifications for the position.

Beyond the legal requirements for directors under the Canada Cooperatives Act, all directors of the Agency must

be financially literate (i.e., able to read and understand a set of financial statements as complex as the Agency's)

be prepared to attend meetings regularly and otherwise dedicate the time and energy needed for the Agency’s effective governance.

As a group, the directors must be knowledgeable about matters relevant to the Agency’s mandate and operations, including

co-operative housing

property management

regional housing markets

the housing programs under which co-operatives operate

administration of government programs

business management

risk management

information technology

finance or accounting

relevant areas of law.

Restrictions

The Agency’s by-laws state that, at the time of their appointment and afterwards, no director of the Agency may be

a current director, officer or employee of CHF Canada or of a regional federation of housing co-operatives

a current director, officer or employee of CMHC

a current member, director, officer, employee or manager of a co-op advised by the Agency that it is not following its operating agreement with CMHC

in breach of the Agency’s rules of ethical conduct and of the Ethical Conduct Agreement they sign on joining the board and each year afterwards.